Automotive Miniweb Radar Market is projected to reach a value of $13.86 billion by 2030

According to the report published by Virtue Market Research, the Global Automotive Miniweb Radar Market was valued at $5.14 billion in 2022 and is projected to reach a market capitalization of $ 13.86 billion by 2030. Over the forecast period of 2023-2030, the market is estimated to grow at a CAGR of 13.2% owing to the rising demand for vehicle safety and autonomous vehicles.

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Automotive Miniweb RADAR is a key technology used in the automotive industry as it provides precise and accurate information for driver assistance systems such as adaptive cruise control. The market for automotive RADAR is predicted to grow at a high rate due to the rising demand for vehicles with safety features and the push toward the demand for autonomous vehicles.

The COVID-19 pandemic has negatively affected the automotive industry leading to a significant supply-demand gap for RADAR-related components and a decrease in funding for research and development and the adoption of new technology. The increasing use of advanced driver assistance systems (ADAS) in vehicles, favorable government regulations, and the rising demand for autonomous vehicles are the main drivers for the growth of the automotive Miniweb RADAR market. Besides this, the primary drivers of the automotive miniweb radar market resulting in the rise in CAGR are the increasing demand for advanced driver assistance systems (ADAS), safety features, and the paradigm shift toward autonomous vehicles. The area around the vehicle is precisely and accurately detected by these systems using radar, reducing the likelihood of accidents and improving driving comfort. The demand for driver assistance systems has increased as a result of rising consumer spending power and the growth of industrialized nations' economies, which has boosted market growth. Due to their improved object detection capabilities and commitment to promoting safer roads, long-range radars are also a popular trend in the automotive miniweb radar industry.

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Segmentation Analysis:
The global Automotive Miniweb Radar Market segmentation includes:

By Range:
• Long Range RADAR (LRR)
• Short & Medium Range RADAR (S&MRR).

The automotive miniweb radar market is segmented into Long Range RADAR (LRR) and Short & Medium Range RADAR (S&MRR) based on range. The Short & Medium Range RADAR (S&MRR) segment dominated the market and is predicted to grow at the fastest rate over the next few years. The car safety system heavily relies on these radars, and the S&MRR system has several advantages such as blind spot identification, lane change assistance, and park assistance. The market growth for S&MRR is projected to be accelerated by falling prices and the requirement to install more than two RADARs per vehicle to improve safety. On the other hand, Long-range RADARs are used to measure other vehicles' speed and distance. They operate at 77 GHz, which offers superior resolution and precision, and are used to identify objects in a wider view and gauge the speed and distance of other cars. Long-range radar requires directed antennas since they offer better resolution and have a wide range of 80 to 200 meters.

By Frequency:
• 2X-GHz
• 7X-GHz

The automotive miniweb radar market is split into 2X-GHz and 7X-GHz segments based on frequency. Due to its affordability without compromising on high-end features, the 2X-GHz frequency range is used for the majority of short-range applications. Parking assistance, blind spot detection, collision mitigation, rear cross-traffic alert, and traffic sign recognition are its main applications (PA). Instead, the 7X-GHz frequency range's 77-GHz and 79-GHz bands, which have good long- and mid-range capabilities, are utilized. Adaptive cruise control (ACC), forward collision warning (FCW), headway alert, mitigation, and brake support are some of the uses for these bands. Due to its lower cost and technical superiority, 77-GHz radar technology is likely to develop more quickly than other bands.

By Application:
• Autonomous Emergency Braking (AEB)
• Blind Spot Detection (BSD)
• Forward Collision Warning System
• Adaptive Cruise Control (ACC)
• Intelligent Park Assist
• Other ADAS Applications.

The market for automotive miniweb radar is being propelled by the rising popularity of ADAS in automobiles. Intelligent Park Assist, Blind Spot Detection, Autonomous Emergency Braking, and Adaptive Cruise Control are a few of the major uses of miniweb radar technology in the automotive sector. Radar technology is used by AEB systems to identify potential collisions and automatically apply the brakes to either prevent or lessen the severity of the collision. Due to this application's widespread adoption as a standard component of many vehicles, the automotive miniweb radar market is anticipated to grow at a rapid rate. Radar is used by BSD systems to identify objects in the driver's blind spot and warn them of potential dangers. As more automakers incorporate BSD into their vehicles, this application is also anticipated to experience rapid growth.

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Regional Analysis:
In addition to Latin America, the Middle East, and Africa, the automotive miniweb radar market is anticipated to expand in regions outside of North America, Europe, and Asia Pacific. The market is predicted to grow in Latin America as a result of the increased adoption of cutting-edge vehicle technology and an increase in the number of vehicles on the road. Similar to this trend, it is anticipated that the Middle East and Africa markets will expand due to the region's increasing demand for luxury cars and the uptake of cutting-edge automotive technology.

Latest Industry Developments:
• In January 2023, in order to develop sophisticated advanced driver assistance systems that will contribute to safer driving, Analog Devices along with Seeing Machines have teamed up together. Through this partnership, Seeing Machines' computer vision technology and Analog Devices' expertise in automotive engineering will be combined to produce more sophisticated driver assistance systems.

• In March 2022, with a focus on boosting development locations in Germany, Continental AG is growing its presence in the field of automated driving and driver assistance systems.

• In January 2023, the 6th generation Smart Camera from ZF was introduced. It is intelligent and adaptable enough to be used in ADAS and automated driving systems. The accuracy and performance of this camera have been improved for safer and more effective vehicle operations.

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This release was published on openPR.